Notice: Payments for answers will end 4/10/2017. Click for more info.
Question and answer
Q: If you borrow $140,000.00 from your bank at rate of simple interest of 3% for a period of 5 years to start up your business, how much will you owe in simple interest at the end of the life of the
loan? Answer: $140,000.00 x .03 x 5 years
A: If you borrow $140,000.00 from your bank at rate of simple interest of 3% for a period of 5 years to start up your business, the interest you will owe at the end of 5 years is $21,000. 140,000*.03*5=21,000
Get an answer
Original conversation
User: If you borrow $140,000.00 from your bank at rate of simple interest of 3% for a period of 5 years to start up your business, how much will you owe in simple interest at the end of the life of the loan? Answer: $140,000.00 x .03 x 5 years

Weegy: For simple interest the formula is I=Prt I=500,000*.145*10 I=725,000 $500,000.00 at 14.5% simple interest for ten year - the interest is $725,000.
Expert answered|reign_23|Points 0|

Question
Asked 1/1/2013 10:20:43 AM
Updated 1/1/2013 11:58:49 AM
1 Answer/Comment
This conversation has been flagged as incorrect.
Flagged by debnjerry
New answers
Rating
3
If you borrow $140,000.00 from your bank at rate of simple interest of 3% for a period of 5 years to start up your business, the interest you will owe at the end of 5 years is $21,000.
140,000*.03*5=21,000
Added 1/1/2013 11:58:49 AM
This answer has been added to the Weegy Knowledgebase
Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
The value of a property declines every year by 6%. Presently, its value is $50,000. What will be its value 2 years from now
Weegy: The value after 2 years would be 524.29. (More)
Question
Expert Answered
Updated 1/1/2013 10:23:12 AM
1 Answer/Comment
The value of a property declines every year by 6%. Presently, its value is $50,000. 2 years from now, it's value will be $44,180.
Added 1/1/2013 10:23:12 AM
This answer has been added to the Weegy Knowledgebase
27,385,359 questions answered
Weegy Stuff
S
P
Points 114 [Total 765] Ratings 0 Comments 114 Invitations 0 Offline
S
P
P
L
P
P
Points 54 [Total 1722] Ratings 0 Comments 54 Invitations 0 Offline
S
Points 21 [Total 21] Ratings 2 Comments 1 Invitations 0 Offline
S
Points 20 [Total 20] Ratings 2 Comments 0 Invitations 0 Offline
S
Points 3 [Total 14] Ratings 0 Comments 3 Invitations 0 Offline
S
Points 2 [Total 2] Ratings 0 Comments 2 Invitations 0 Offline
S
Points 2 [Total 2] Ratings 0 Comments 2 Invitations 0 Offline
S
Points 2 [Total 2] Ratings 0 Comments 2 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.